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All posts by BusinessNews Staff

  • Stakeholders foresee bright future for industry, trade in Nigeria

    Even in the present thick cloud of politics, stakeholders in the industrial sector maintain that the Nigerian trade and industrial environment has never been this good, Festus Akanbi reports On Tuesday, the Federal Government approved a new...

    • Posted January 26, 2015
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  • Why 60% multinational firms don’t register imported technology – Bindir

    The National Office for Technology Acquisition and Promotion (NOTAP), an agency under the Ministry of Science and Technology, has disclosed that more than 60 per cent of multinational companies operating in the country don’t register the foreign...

    • Posted January 26, 2015
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  • CBN raises BDCs’ weekly dollar supply to $30,000, stems naira’s free fall

    In line with its resolve to calm the strong volatility observed in the forex market in the past few weeks as well as save the naira from further depreciation, the Central Bank of Nigeria (CBN) has increased...

    • Posted January 25, 2015
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  • Sambo inaugurates railway operation in Makurdi

    In fulfilment of the federal government’s promise to Nigeria to revamp the railway system in the country, Vice President Namadi Sambo on Friday inaugurated five 68-passenger coach air-conditioned trains in Makurdi Sambo explained that the inauguration of...

    • Posted January 25, 2015
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  • Oil slump: Banks face financial distress

    Falling oil price, which is expected to hit the economy harder later in the year, will make some weak banks to run into financial distress, it has been learnt. Financial distress is a term in corporate finance...

    • Posted January 25, 2015
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  • Contract approval cycles threatens oil projects

    As competition for crude oil and investments in Africa grows amid the plunge in global oil prices, the time it takes for projects to be approved in the country as well as rising insecurity have been identified...

    • Posted January 25, 2015
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  • UBA to expand operations to Angola, South Africa

    The United Bank for Africa Plc (UBA) plans to expand to Angola and South Africa as Nigeria, its largest market, is pummelled by falling crude oil prices. The lender will move to the southern African nations as...

    • Posted January 24, 2015
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  • CBN raises banks’ net Forex trading position to 0.5%

    The Central Bank of Nigeria (CBN) has once more reviewed upward the net foreign position of banks. The central bank in its latest circular titled: “Utilisation of RDAS and interbank funds/review of the foreign exchange trading positions...

    • Posted January 24, 2015
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  • Banks face sanctions over Windows XP

    The Central Bank of Nigeria may sanction banks over their failure to migrate all their Automated Teller Machines from Windows XP to Windows 7 operating system. Findings by our correspondent showed that barely two weeks to the...

    • Posted January 24, 2015
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  • FAAN to double passenger capacity at MMIA

    The Federal Airports Authority of Nigeria (FAAN) has said it would double its passenger capacity at the Lagos and Abuja airports when the new terminals, which are under construction and would be completed early next year, come...

    • Posted January 24, 2015
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